Natural disaster risks
Rising trend in losses
Roughly 55% was not insured
For insurers, it is essential to have in-depth knowledge of risks and how they are developing in order to be able to assess extreme risks and develop new insurance solutions. The majority of research findings indicate that weather-related natural disasters are already being influenced by climate change, and that this influence is likely to become even stronger in the future. Short- and medium-term natural climate oscillations also significantly influence the risk situation.
In order to be able to assess the trends and risks emanating from natural hazards, it is therefore essential to investigate the scientific background, analyse large quantities of data (data analytics) and develop high-resolution risk models.
Five decades of research into natural disasters
When the rising trend in both overall and insured natural disaster losses first emerged in the 1970s, Munich Re was quick to identify the greater need for expertise in this field. Since then, its experienced scientists and insurance experts have been analysing and assessing the full spectrum of natural hazards, ranging from cyclones, severe thunderstorms and floods to earthquakes and volcanic eruptions.
Risk analyses reflecting the current state of scientific knowledge form the basis for risk models, the range of natural hazard covers for our clients and the development of innovative insurance solutions.
Climate change is taking an increasing toll. The natural disaster figures for 2022 are dominated by events that, according to the latest research findings, are more intense or are occurring more frequently. Prevention and financial protection, for example in the form of insurance, must therefore be given higher priority.
Bulk of natural disaster losses remains uninsured
The challenge: from the science to insurance
Risk assessment and risk management solutions
Why not benefit from our decades of experience in assessing natural disaster risks. Munich Re can offer solutions that will meet your specific requirements.